Answer:
Step-by-step explanation:
Answer:
x=45
Step-by-step explanation:
<u>Answer:</u>
○ 
<u>Step-by-step explanation:</u>
Given the equation:
,
to solve for 
, we have to rearrange the equation to make its subject.
⇒ 
[expand brackets]
⇒ 
⇒ 
[add 
to both sides]
⇒ 
⇒ 
[subtract 96 from both sides]
⇒ 
⇒ 
[divide both sides by 20]
⇒ 
Answer: her monthly payments would be $267
Step-by-step explanation:
We would apply the periodic interest rate formula which is expressed as
P = a/[{(1+r)^n]-1}/{r(1+r)^n}]
Where
P represents the monthly payments.
a represents the amount of the loan
r represents the annual rate.
n represents number of monthly payments. Therefore
a = $12000
r = 0.12/12 = 0.01
n = 12 × 5 = 60
Therefore,
P = 12000/[{(1+0.01)^60]-1}/{0.01(1+0.01)^60}]
12000/[{(1.01)^60]-1}/{0.01(1.01)^60}]
P = 12000/{1.817 -1}/[0.01(1.817)]
P = 12000/(0.817/0.01817)
P = 12000/44.96
P = $267
Answer:
33.33
Step-by-step explanation:
